February 20, 2020 Danni Poulton
There is tons of data available about how to retain gym members. Data tells us facts such as:
Whilst these kinds of generalised insights are really important, the truth is that no two gyms are the same when it comes to member retention risks, just as no two people are truly the same.
Whilst it’s really useful to understand the causes of customer retention risks and how to create retention campaigns, at the end of the day you need to use your own gym data to gain specific insights that can help improve retention for your gym.
What KeepMe essentially does is use your gym data to create a model of the retention health of your gym. It does this by analyzing your data and providing insights that only apply to your gym.
Your gym data is unique, and so are your member retention challenges. This is precisely what KeepMe zooms in on.
Here’s why it’s important to use this kind of unique look at your data:
Research has shown that if you want to improve customer engagement and loyalty you need to understand their experience. If you want to understand your members’ experiences you need to look at the specific data you hold about them.
Evidence shows that members are more likely to continue giving you their business if they have a positive customer experience with you. One way to monitor the kind of experience your members are having is with Net Promoter Surveys that work out if your members are likely to promote your brand (promoters) or are likely to talk it down (detractors).
The only way to work out the NPS scores of your members is to ask them using surveys. The data that you collect on this can be very powerful. It means you can reach out to individuals with messages that resonate with the specific kind of relationship they have with your gym.
So this is another way your data makes you different. And, of course, if you run multiple facilities you will find that the retention levels of each site is different.
For example, one gym may be easily accessible by public transport, be in a highly populated area, and have a well established reputation. But perhaps you’ve recently opened another venue and you’re struggling to keep members coming back. Using AI membership retention software like KeepMe you might discover that your members are travelling a long way to your gym. If this is the case, you can do two things.
One, target your ads within a 5km radius of your gym. The distance people travel makes an impact on gym retention so it makes sense to generate customers from your local area.
Two, you can make a bigger focus on improving the retention of those who have to travel a little further. This insight might not apply to any other gym, but it’s exactly these unique insights that can be make or break when it comes to improving gym retention.
Another way that your data makes you different is that retention is not just about taking a snap shot of retention health at a single point in time. Using KeepMe you can track retention levels over time. This can tell you if the last month was an improvement on the previous, and whether your future months are predicted to see overall member retention rise or fall.
These kind of time based insights also mean you can relate to your members in real time.
With KeepMe, you can see exactly who’s working out in your gym right now.
The right interaction at the right time can increase the likelihood of a member sticking around by 50%. If an individual is at risk of attrition the truth is they may not even realise this themselves. But you can use KeepMe to trigger staff interactions when at-risk members come in to your gym.
This can be organised using KeepMe’s On-Site mobile app, meaning your staff have never been more informed and empowered to help improve member retention than they are now with this kind of data-based technology.
This is really helpful because it’s not always possible, or even desirable, to interact with every member that comes to your gym. Instead you can use the unique data Keepme captures about your members to make sure the right people get the attention they need to keep them coming back for more.
If you want to know how Keepme can be tailored to solve your unique member retention challenges you can book a free demo of our software that will walk you through it.
Your data makes you different, so make sure you are making the most of it using KeepMe’s AI retention software.
January 9, 2020 Danni Poulton
Ten years ago, if you wanted to measure the retention risks of each of your gym members you would have to employ an entire team of data scientists and analysts. Well you can now do it with one piece of AI membership retention software like KeepMe.
You probably already know that AI stands for Artificial Intelligence. But what is that exactly, and how does it work?
Let’s start with the second part first… “intelligence”. This basically refers to the ability to assess information and make informed decisions based on that assessment. It’s what we humans refer to as “thinking”.
For the longest times mathematicians and scientists have thought hard about the idea that computers can make the kind of smart decisions people make… that’s the “artificial” part of the equation.
Artificial Intelligence was a big topic in the 1950s, but it’s only with relatively recent developments in computing, helped along by the development of the internet and cloud based technology, that big strides have been made in developing AI and making it accessible to all. So much so that AI has become a bit of a catch-all buzzword that’s used so much it loses all meaning.
So let’s break down the key components of AI, and how it can help with gym retention.
There’s no AI without data. Lots of data. Technological advancements in data collection and handling, alongside a growing expectations from consumers for personalised customer service has put a ton of data at our fingertips. That’s one of the reasons it’s so puzzling when companies don’t make the most of the data by using AI software that’s even better at rapidly analyzing data than humans. And much cheaper too.
Humans are pretty good at generalised thinking, but AI needs to be set predefined goals for it to work. It’s when you tell it to look for patterns in data and take action based on that AI is in its element. AI finds patterns in data and applies a bunch of criteria to solve problems set by the software designer.
AI is always working behind the scenes which makes it easy to gain an overview of your retention levels without missing key insights because of inconsistencies in data processing that can arise when you employ humans to crunch your data for you.
KeepMe takes individual gym member data and applies an algorithm to determine their retention level, generating a number called a “KeepMe score”. This shows if a member is likely to leave, could go either way, or is especially loyal and viable to join a member referral scheme.
AI provides crucial insights into which members might leave in a timeframe for you to take effective steps to win those members back. This requires complex data crunching that AI is especially well placed to solve. Then it’s up to your team to put those insights to work.
That said, working out who is at risk of leaving is only one part of what the KeepMe AI does.
You can also plug in a set of conditions that can trigger member outreach tasks such as sending emails, triggering a callback from a member of staff or a number of other actions.
There are various different types of AI, but KeepMe uses a subset of AI called “machine learning”, a term that is becoming increasingly popularised these days.
Put simply, machine learning is a computer program that can improve itself over time. This means the kind of predictions the KeepMe AI software become smarter as the system has exposure to member data over a period of time.
KeepMe takes your member data, applies Machine Learning models to it, and assigns a retention score to each member, as well as an overall member retention score for each gym location.
You can then drill down into this data to get much more specific insights. For example, you can break down your member retention levels by factors such as age, gender, location, pricing plans and more.
This means you can then take actions that are appropriate for each member or group of members.
For example, if you discover that women have lower retention scores you can reach out to them about group activities that are women-friendly. If you are struggling to retain millennial gym members you can make sure you talk up the experiential aspects of your gym offering and encourage them to get involved with your gym community.
You can find out more about how KeepMe uses AI to help improve gym retention levels by booking a free tour of the software today. It will be tailored to your own fitness facility so you can see exactly how it can help you build member retention strategies that will reduce acquisition costs and transform the retention health of your gym.